Skip to main content
You have permission to edit this article.
Edit
Lessons for first-time home buyers: Down payment just the start
spotlight AP

Lessons for first-time home buyers: Down payment just the start

  • 0

If you're saving for your first home, there's no shortage of advice out there — some of it questionable, even if you do have an avocado toast habit. Still, it's true that your down payment may be the biggest check you ever write.

But once you move in, it's also true that the cash tends to just keep flying out of your bank account like that money-with-wings emoji. If you drain your savings on closing day, you'll have to delay furnishings or repairs, to say nothing of less-pressing cosmetic changes.

A sizable cash cushion makes the cost of owning a home more manageable. But even if you lack that cushion, it helps to at least know what to expect and what else you may need to finance or start saving for again.

Here's what to know:

Looking to sell your home this fall? Here are six tips:

Related to this story

Most Popular

Despite widespread economic declines brought on by the COVID-19 pandemic, the real estate market has remained surprisingly strong, with record-setting increases in existing home sales in every region of the United States. 

Get up-to-the-minute news sent straight to your device.

Topics

Breaking News